Maalem Financing raises SAR 100 million in debut Sukuk

19 October, 2018      51

 

 

Saudi based Maalem Financing has raised SAR 100 million from a debut sale of Sukuk, reported Reuters.

John Sandwick, a member of Maalem's Board of Directors, said that the three-year unsubordinated deal was sold through a private placement and the firm could tap the market again as early as January next year.

The debut transaction used a structure known as Murabahah, a cost-plus-profit arrangement commonly used in the Kingdom and the firm hopes to use an asset-backed structure for future deals.

Albilad Capital, the investment banking unit of Bank Albilad, served as sole lead manager and arranger of the Islamic bonds.


Original Source: http://www.cpifinancial.net/news/post/47252/maalem-financing-raises-sar-100-million-in-debut-sukuk


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